SBB-VSB: what changed
Two financial years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
SBB-VSB
Largest movements
- Cash +€19,918
up €19,918 (+202.7%), from €9,829 to €29,746
mainly Depreciation (+€22,447) and Net result for the year (+€5,057)
- Tangible fixed assets -€16,510
down €16,510 (-15.2%), from €108,706 to €92,195
of which Plant, machinery and equipment: -€11,636
- Receivables within one year +€9,867
up €9,867 (+2208.7%), from €447 to €10,314
of which Trade receivables: +€10,110
- Reserves +€5,000
new in 2025: €5,000
- Trade debts +€3,584
new in 2025: €3,584
- Tax, wage and social debts +€3,077
new in 2025: €3,077
- Accrued charges and deferred income +€1,557
up €1,557 (+35.7%), from €4,359 to €5,916
- Gross operating margin +€6,421
up €6,421 (+24.7%), from €25,986 to €32,406
- Depreciation +€3,628
up €3,628 (+19.3%), from €18,819 to €22,447
- Taxes +€1,702
new in 2025: €1,702
- Other operating charges -€1,049
down €1,049 (-85.0%), from €1,235 to €186
- Financial charges +€482
up €482 (+18.8%), from €2,567 to €3,050
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Cash bridge derived
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €118,981 | €132,256 | +€13,275 | +11.2% |
| Fixed assets | 21/28 | €108,706 | €92,195 | -€16,510 | -15.2% |
| Tangible fixed assets | 22/27 | €108,706 | €92,195 | -€16,510 | -15.2% |
| Plant, machinery and equipment | 23 | €101,348 | €89,712 | -€11,636 | -11.5% |
| Furniture and vehicles | 24 | €7,358 | €2,484 | -€4,874 | -66.2% |
| Current assets | 29/58 | €10,275 | €40,060 | +€29,785 | +289.9% |
| Amounts receivable within one year | 40/41 | €447 | €10,314 | +€9,867 | +2208.7% |
| Trade receivables | 40 | €204 | €10,314 | +€10,110 | +4958.9% |
| Other amounts receivable | 41 | €243 | - | -€243 | |
| Cash at bank and in hand | 54/58 | €9,829 | €29,746 | +€19,918 | +202.7% |
| Total equity and liabilities | 10/49 | €118,981 | €132,256 | +€13,275 | +11.2% |
| Equity | 10/15 | €33,486 | €38,544 | +€5,057 | +15.1% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | - | €5,000 | +€5,000 | |
| Distributable reserves | 133 | - | €5,000 | +€5,000 | |
| Profit (loss) carried forward | 14 | €23,486 | €23,544 | +€57 | +0.2% |
| Amounts payable | 17/49 | €85,495 | €93,712 | +€8,218 | +9.6% |
| Amounts payable after more than one year | 17 | €50,000 | €50,000 | = | 0.0% |
| Financial debts | 170/4 | €50,000 | €50,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €31,136 | €37,796 | +€6,661 | +21.4% |
| Trade debts | 44 | - | €3,584 | +€3,584 | |
| Suppliers | 440/4 | - | €3,584 | +€3,584 | |
| Taxes, remuneration and social security | 45 | - | €3,077 | +€3,077 | |
| Taxes | 450/3 | - | €3,077 | +€3,077 | |
| Other amounts payable | 47/48 | €31,136 | €31,136 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €4,359 | €5,916 | +€1,557 | +35.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,819 | €22,447 | +€3,628 | +19.3% |
| Other operating charges | 640/8 | €1,235 | €186 | -€1,049 | -85.0% |
| Gross operating margin | 9900 | €25,986 | €32,406 | +€6,421 | +24.7% |
| Operating profit (loss) | 9901 | €5,932 | €9,773 | +€3,842 | +64.8% |
| Financial income | 75/76B | €208 | €36 | -€172 | -82.8% |
| Recurring financial income | 75 | €208 | €36 | -€172 | -82.8% |
| Financial charges | 65/66B | €2,567 | €3,050 | +€482 | +18.8% |
| Recurring financial charges | 65 | €2,567 | €3,050 | +€482 | +18.8% |
| Profit (loss) for the period before taxes | 9903 | €3,572 | €6,760 | +€3,187 | +89.2% |
| Income taxes | 67/77 | - | €1,702 | +€1,702 | |
| Profit (loss) for the period | 9904 | €3,572 | €5,057 | +€1,485 | +41.6% |
| Profit (loss) for the period to be appropriated | 9905 | €3,572 | €5,057 | +€1,485 | +41.6% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.